GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has gained a foothold below the support level. The instrument is going below the Ichimoku Cloud, which implies a downtrend. A test of the Tenkan-Sen line at 1.2225 is expected, followed by a decline to 1.2005. An additional signal confirming the decline could be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above the 1.2425 level, which will indicate a further rise to 1.2515.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has gained a foothold above the upper boundary of the bearish channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the lower boundary of the Cloud at 1.3465 is expected, followed by a rise to 1.3635. An additional signal confirming growth could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing below the 1.3425 level, which will indicate a further decline to 1.3335. Meanwhile, growth could be confirmed by a breakout of the upper boundary of a Double Bottom reversal pattern with the price securing above 1.3555.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.9105 is expected, followed by a rise to 0.9195. An additional signal confirming growth could be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Ichimoku Cloud with the price securing below 0.9020, which will signal a further decline to 0.8930.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.